Liberty All-Star(R) Equity Fund March 2015 Update
Apr 10, 2015 08:53:00 (ET)
Liberty All-Star(R) Equity Fund March 2015 Update
BOSTON, MA--(Marketwired - Apr 10, 2015) - Below is the March 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA March, 2015
Investment Approach
Fund Style: Large-Cap Core
Fund Strategy: Combines three value-style and two
growth-style
investment managers. Those selected demonstrate a
consistent
investment philosophy, decision making process, continuity
of key
people and above-average long-term results compared
to managers
with similar styles.
Investment Managers:
Value Managers:
Matrix Asset Advisors, Inc.
Pzena Investment Management, LLC
Schneider Capital Management Corporation
Growth Managers:
Cornerstone Capital Management LLC
TCW Investment Management Company
Top 20 Holdings at Month-End
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(28.5% of equity portfolio)
(Rank from previous month)
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1 State Street Corp. (1) 2.2%
2 JPMorgan Chase & Co. (3) 2.2%
3 Salesforce.com, Inc. (2) 2.2%
4 Citigroup, Inc. (4) 1.8%
5 Google, Inc., Class A & C (6) 1.6%
6 Facebook, Inc., Class A (7) 1.6%
7 SunTrust Banks, Inc. (
1.5%
8 Visa, Inc., Class A (9) 1.5%
9 Starbucks Corp. (5) 1.4%
10 MetLife, Inc. (12) 1.3%
11 Marriott International, Inc., Class A (10) 1.3%
12 Hewlett-Packard Co. (11) 1.2%
13 Microsoft Corp. (14) 1.2%
14 American International Group, Inc. (15) 1.2%
15 Amazon.com, Inc. (19) 1.1%
16 QUALCOMM, Inc. (16) 1.1%
17 Morgan Stanley (17) 1.1%
18 Alexion Pharmaceuticals, Inc. (21) 1.0%
19 American Tower Corp. (20) 1.0%
20 Cerner Corp. (23) 1.0%
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Holdings are subject to change.
Monthly Performance
------------------------------------------ --------------------------------
Performance NAV Market Price Discount
------------------------------------------ -------- ------------ --------
Beginning of month value $6.84 $5.93 13.3%
Distributions - -
End of month value $6.72 $5.84 13.1%
Performance for month -1.75% -1.52%
Performance year-to-date -0.10% -0.70%
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The net asset value (NAV) of a closed-end fund is the market value of the
underlying investments (i.e., stocks and bonds) in the Fund's portfolio,
minus liabilities, divided by the total number of Fund shares outstanding.
However, the Fund also has a market price; the value at which it trades on
an exchange. If the market price is above the NAV the Fund is trading at a
premium. If the market price is below the NAV the Fund is trading at a
discount. Returns for the Fund are total returns, which inlcudes dividends,
and are net of Fund Expenses. The Fund's performance is calculated assuming
that a shareholder reinvested all distributions. Past performance cannot
predict future investment results. Performance will fluctuate with changes
in market conditions. Current performance may be lower or higher than the
performance data shown. Performance information shown does not reflect the
deduction of taxes that shareholders would pay on Fund distributions or the
sale of Fund shares. Shareholders must be willing to tolerate significant
fluctuations in the value of their investment. An investment in the Fund
involves risk, including loss of principal. Sources of distributions to
shareholders may include ordinary dividends, long-term capital gains and
return of capital. The actual amounts and sources of the amounts for tax
reporting purposes will depend upon the Fund's investment experience during
the remainder of its fiscal year and may be subject to changes based on tax
regulations. If a distribution includes anything other than net investment
income, the fund provides a Section 19(a) notice of the best estimate of its
distribution sources at that time, available at
http://www.all-starfunds.com/. These estimates may not match the final tax
characterization (for the full year's distributions) contained in
shareholders' 1099-DIV forms after the end of the year.
Net Assets at Month-End ($millions)
----------------------------------------------------
Total $1,209.8
Equities $1,180.8
Percent Invested 97.6%
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Sector Breakdown (% of equity portfolio)*
------------------------------------------ -------- ------------
Financials 28.2%
Information Technology 20.6%
Consumer Discretionary 17.9%
Health Care 13.2%
Energy 10.3%
Industrials 4.8%
Consumer Staples 4.1%
Materials 0.8%
Utilities 0.1%
Total Market Value 100.0%
----------------------------------------- -------- ------------
*Based on Standard & Poor's and MSCI Barra
Global Industry Classification Standard
(GICS).
New Holdings Holdings Liquidated
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Ecolab, Inc. Arch Coal, Inc.
HD Supply Holdings, Inc. Church & Dwight Co. Inc
Pandora Media, Inc.
Piedmont Office Realty Trust, Inc.
Royal Caribbean Cruises Ltd.
Contact Information:
Liberty All-Star Equity Fund
1-800-241-1850
www.all-starfunds.com
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